Bank of the Philippine Islands - Surrender of Trust License in View of the Spin-off of its Trust Department to BPI Asset Management and Trust Corporation

BAN@KO SENTNAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR crRcurAR LETTER NO. Cr-2017 -Q22 To : ALL BANKS AND NON-BANK FINANCIAI INSTITUTIONS Subject : Bank of the Philippine lslands - Surrender of Trust License in View of the Spin-off of its Trust Department to BPI Asset Management and Trust Corporation Please be informed that in view of the spin-off of the Trust Department of Bank of the Philippine lslands (BPl) into BPI Asset Management and Trust Corporation as approved under Monetary Board Resolution No. 1349 dated 28 July 2016, BPI's trust license is automatically revoked. Accordingly, BPI surrendered its trust license to the Bangko Sentral ng Pilipinas on 24 February 2OL7. For information and guidance. *[*^m 30 March 2017 A. Mabini St., Malate 1004 Manila, Philippines . (6321708-7701 . www.bsp.gov.ph . [email protected]